Over there YouTube ad revenue collapsed for the first time since the service’s birth. The platform of google ended the third quarter of 2022, grossing $7.1 billion in advertising, a year-over-year decline.
All in all, Alphabet — the giant that owns YouTube, Google and dozens of other spin-offs — posted $69.1 billion in revenue, falling short of its stated goals of about $2 billion. The profit – 13.9 billion – also fell short of expectations.
In the hours immediately following the release of the quarterly results, Alphabet’s market cap lost $7.6 billion.
But if Google cries, the other tech giants certainly have nothing to laugh about: Even Microsoft has reported a sharp slowdown in growth, thanks to the decline in cloud revenues, and Spotify’s ad revenues are also growing at a slower pace. expectations.
Google and Microsoft are considered an important thermometer to measure the overall health of the US economy. The two giants pay the price of an unfavorable economic climate: the specter of one recession is on the horizon and the inflation crisis does not seem destined to end in the near term.
According to some reconstructions, Google is redefining its strategy by reallocating most of its resources to proprietary hardware products. A choice that could hurt some of his long-term partners.
Source: Lega Nerd
